CPO Rising’s ProcureTech Pulse series continues this week with fresh supply management technology news and updates covering a few recent major announcements. If you are a sourcing, procurement, or spend management solution provider and you are continually innovating the way that procurement and supply chain leaders and practitioners drive value, we’d love to hear from you. Please drop us a note at info at cporising dot com. Thanks, and enjoy!
Basware Acquires Australian Accounts Payable Automation Firm Redmap
SYDNEY, Australia — Basware, a global leader in invoice lifecycle management, announced that it has acquired Redmap, a leading Australian provider of accounts payable (AP) automation software. Together, Basware and Redmap will deliver a portfolio of AI-driven solutions to middle-market and enterprise companies, empowering them to manage the entire invoice lifecycle.
According to Jason Kurtz, CEO Basware, “Today’s finance environments are more complex than ever, and every organization – not just the largest companies – needs solutions to streamline and simplify financial processes,” he said.
“Redmap understands this, and their team has built a great product tailored for middle-market companies and ERP platforms. Together, we can bring innovation, capabilities and resources often reserved for large enterprises, to transform finance organizations and accounts payable operations for these customers and drive long-term efficiency and growth,” Kurtz added.
The company stated that the opportunity is significant. Australia and the broader APAC region are primed for rapid adoption of invoice management solutions. As governments push e-invoicing standards and companies adapt to ever-changing regulatory standards, such as Australia’s new Aged Care Act, organizations across the region are seeking smarter, faster, and more compliant ways to manage growing invoice volumes.
Redmap’s solutions help hundreds of organizations across multiple industries, including retail, mining, and aged care, achieve faster invoice processing, improved accuracy, and greater financial visibility. This has helped them become a trusted partner for their customers, such as Evolution Mining, Lowes Menswear, and Officemax, and ERP partners, such as Melbourne-based Pronto Software.
Read the full announcement here.
Sievo Expands Procurement Performance Capabilities with Provalido Acquisition, Strengthening UK Footprint
HELSINKI, Finland — Sievo, a global leader in procurement analytics, announced the acquisition of Provalido Ltd, a UK-based procurement performance management (PPM) company established in 2013. Provalido’s cloud-based procurement performance software enables global enterprises to move beyond spreadsheets and transform the way they plan, manage, and report their procurement cost-reduction activity.
The company stated that the acquisition unlocks a new era for procurement performance measurement, wher Sievo’s Initiative Management product will continue as a core part of the Sievo solution suite and will be further developed and strengthened by Provalido’s decade-plus of data, experience, and innovation in the PPM domain. Over time, customers can expect further improvements and innovation across Sievo’s products, informed by Provalido’s expertise and data.
According to Sammeli Sammalkorpi, CEO and co-founder of Sievo, “Bringing Provalido into Sievo is a strategic step in our vision to further help procurement organizations move from insight to impact. We are very excited to combine Provalido’s deep domain expertise in Procurement Performance Management with Sievo’s strengths in the same space, but also beyond, in the wider Procurement Analytics domain,” Sammalkorpi stated.
“The acquisition will enable our customers to close the gap between identified savings opportunities that truly hit the bottom line. Furthermore, the acquisition enables us to serve our local customers and partners in the UK even better.”
Sievo will also establish a permanent office in the United Kingdom, further reinforcing its commitment to the UK market and its local customers and partners.
Read the full announcement here.
AvidXchange Empowers ERP Partners with Accounts Payable as a Service
CHARLOTTE, NC — AvidXchange, a leading provider of accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers, announced Accounts Payable as a Service, enabling ERP providers to deliver a fully integrated AP and payments experience that lets customers manage the entire process without leaving their ERP platform.
According to Doug Anderson, chief product officer for AvidXchange, “Our goal is to make it effortless for ERP providers to give their customers the same best-in-class AP experience AvidXchange has delivered for 25 years, without the complexity of building it themselves,” he said.
The company stated that by building on AvidXchange’s proven automation platform, AP as a Service offers additional benefits for ERP partners and their customers:
– Frictionless customer experience: Embedded onboarding, support, and payment activation deliver a faster, more intuitive go-live experience for customers.
– Seamless integration: Flexible APIs and prebuilt modules embed invoice and payment workflows directly within ERP platforms, ensuring a natural fit and consistent user experience.
– Centralized system of record: By keeping workflows and data within the ERP interface, customers maintain their ERP as the single source of truth for AP and payments.
– Built for developers: Plug-and-play developer APIs and prebuilt UI components simplify integration, enabling ERP developers to embed AP and payments quickly and confidently.
Read the full announcement here.
Coupa Launches New AI Agents to Accelerate Source-to-Pay ROI
FOSTER CITY, Calif. — Coupa, a leading AI platform for total spend management, announced a significant platform release powered by agentic AI. This release delivers predictive intelligence and orchestration capabilities that enable procurement and sourcing leaders to accelerate sourcing cycles, reduce manual effort, and gain granular control over supplier management.
According to Salvatore Lombardo, Coupa chief product and technology officer, “Procurement workflows must be fundamentally redesigned to thrive amidst market volatility. We’re moving beyond simple automation to tackle the complexity of sourcing and supplier management with a new class of autonomous AI agents,” he said.
“This release is a true game-changer. By leveraging agentic AI across our platform, we’re delivering the essential spend visibility, control, and orchestration capabilities needed to maximize purchasing power, accelerate time-to-value, and ultimately redefine global trade with our two-sided network,” Lombardo added.
The company stated that the latest release uses intelligent automation to elevate the supplier experience while providing powerful AI tools to help buyers accelerate discovery, reduce costs, and strengthen relationships:
- Navi Supplier Assistance Agent automates instant, 24/7 responses to common supplier questions, resolving inquiries up to 50% faster and lowering operational support costs.
- Navi Supplier Discovery Agent uses natural language queries to help sourcing managers find the best-fit suppliers up to 100%, accelerating sourcing cycles and improving match quality.
- Coupa’s expanded Supplier Workbench in its Customer Supplier Portal (CSP) centralizes all pending actions and allows buyers to configure rule-based tasks with priorities, improving collaboration and ensuring faster supplier response.
Read the full announcement here.
Genpact Advances AI Innovation with Agentic Accounts Payable Solutions
NEW YORK — Genpact, a global advanced technology services and solutions company, announced that the full Genpact AP Suite, an agentic solution set to revolutionize accounts payable (AP), is now available. The Genpact AP Suite is part of Genpact’s Service-as-Agentic-Solutions portfolio and powered by Microsoft Azure’s AI stack. The product suite provides autonomous, goal-oriented tools using advanced capabilities in document processing, predictive insights, and conversational AI.
According to Jinsook Han, chief strategy, corporate development & global agentic AI officer at Genpact, “Our Service-as-Agentic-Solutions are proprietary Genpact products that transform mission-critical business processes,” she said. “The Genpact AP Suite is one in a series of domain-specific agents we will introduce to the market. We are not just building products – we are building transformational engines, backed by decades of experience in industry processes and trained on vast numbers of real transactions.”
“The Genpact AP Suite addresses inefficiencies, reduces errors, eliminates manual workflows, and elevates finance from a cost center to a pivotal strategic differentiator,” continued Han. “With the Genpact AP Suite, we’re combining agentic AI agents, human intelligence, and autonomous goal-oriented processes into a vital system that drives results and continuously learns and improves.”
The company stated that the Genpact AP Suite consists of four product modules, each with a network of AI agents that proactively manage the nuances of accounts payable: AP Capture, AP Advance, AP Trace, and AP Assist.
Pre-trained, self-learning AI agents optimize every stage of the AP process: intelligently ingesting and validating invoices to enhance touchless processing, resolving exceptions, and continuously adapting to changes in supplier terms, tax rules, and approval hierarchies to streamline inquiry resolution and minimize human intervention.
Read the full announcement here.
